Cambodia’s garment export nets $11.3 billion in 2021

• Feb 15, 2022

Despite facing challenges over raw material supplies, strict crossing border measures imposed by the deadly Covid-19, Cambodia’s garment sector saw the robust growth of export last year.

Figures from the General Department of Customs and Excise, released last week showed that the export amount of the garment, footwear and travel goods increased by 15.2 percent to $11.38 billion last year. Ly Khun Thai, Honorary President of the Cambodian Footwear Association, said that the increase of garment export was due to the increase in orders, some buyers have diverted orders from neighbouring Cambodia.

“Buyers have changed orders from other countries due to unrest in politics and Covid-19 to Cambodia and due to vaccinations in many countries and the reopening of travel, many buyers have placed orders for these products from Cambodia,” Khun Thai said.

Lim Heng, vice president of Cambodia, shared the same sentiment.

“In garment-producing countries like Myanmar, Bangladesh, and Vietnam have faced the outbreak of Covid-19 and there has been a shortage of raw material supplies due to Covid-19. But Cambodia, China has supplied raw materials sufficiency, so there have been more orders to Cambodia increasing,” he said.

Trade preference schemes – EBA, GSP are the factors boosting the Kingdom’s garment export increase, he said.

Minister of Economy and Finance Aun Pornmoniroth said earlier this week that the success of the national vaccination campaign in controlling the spread of COVID-19 has allowed the country to fully resume its socio-economic activities in all areas.

“With the success, Cambodia’s economy is projected to grow at a better-than-expected rate of 3 percent in 2021 from a 3.1 percent contraction in 2020, propelled by a swift rebound in the garment sector and non-garment sector as well as agriculture,” he said.

“For 2022, the economy is predicted to grow at a higher rate of around 5.6 percent, buoyed by the expected rise of global demand and foreign investors’ confidence,” he added. The markets that order the garments from Cambodia include the European, UK, US, Japan, and Canada.

Source: https://www.khmertimeskh.com/501025229/cambodias-garment-export-nets-11-3-billion-in-2021/